Belmont, MA, a picturesque suburb just outside of Boston, is a highly sought-after location for homebuyers. Belmont homes are in high demand due to their charming downtown and easy city access. However, navigating the competitive real estate market can be daunting, especially for first-time buyers. Whether you’re a growing family seeking more space or a professional looking for a convenient commute, the Belmont real estate team Kendall Green Luce Team can guide you with the required knowledge to make an informed decision in your pursuit to become a homeowner in this enviable community. Here’s what you need to know before taking the plunge on a Belmont home:

How to buy a home in Belmont: Understand the market trends

The real estate market in Belmont is highly sought-after due to its proximity to major job centers, top-rated schools, and abundance of amenities. As a result, home prices tend to be on the higher end compared to surrounding areas. Work with an experienced local real estate agent who can provide insights into market conditions, pricing trends, and negotiation strategies. A realtor can help you identify areas where you may be able to find more value and avoid overpaying in bidding wars.

Research neighborhoods thoroughly

Belmont comprises several distinct neighborhoods, each with its personality, home styles, and amenities. Spend time exploring areas that interest you during different times of day to get a sense of noise levels, parking situations, and community vibe. Top neighborhoods for families include Hillcrest, which has exemplary schools and charming streets lined with Craftsman bungalows. Professionals and empty nesters often gravitate toward the newer construction and walkable conveniences in downtown areas like Carlmont Village.

Factor in additional costs

When budgeting to buy a home in Belmont, don’t just focus on the sale price – there are plenty of other costs to factor in. Property taxes are notably high, and homeowners association (HOA) fees can add hundreds to your monthly expenses if you purchase a condo, townhome, or property in a planned community. The closing costs like lender fees, title insurance, and transfer taxes are typically 2-5% of the purchase price. Don’t forget to budget for moving costs and any potential renovations or upgrades you may want to make.

Prepare for competition

Due to high demand and limited inventory, the Belmont real estate market can be fiercely competitive. Many homes attract multiple offers, sometimes far exceeding the listing price. If you find your dream home, be prepared to act decisively and consider strategies like offering above asking price, increasing your down payment, or looking for ways to make your offer more appealing to the seller.

Homes for sale in Belmont

The available homes range from charming Victorians to modern new constructions, showcasing various styles. Many properties have large lots with lovely landscaping. The town has top-rated public schools and is in proximity to excellent private schools. Amenities include the picturesque Belmont Center with shops and restaurants, several parks and reservations, and access to major highways and public transportation into Boston.

Belmont real estate

The Belmont real estate market is highly competitive, with a median home price of $2 million. The housing stock consists primarily of single-family homes, ranging from cozy Capes to stately Colonials, as well as a selection of condominiums and multi-family properties. Belmont remains a popular choice for buyers seeking a comfortable lifestyle within the city’s reach.